Mr. Cunanan’s work on SPAs pre- and post-completion helps buyers and sellers to protect and enhance value through focusing on the key financial links between enterprise value and equity value and ensuring they are negotiated and treated appropriately in the SPA, completion accounts, and earn-outs.

Mr. Cunanan has advised on over 600 SPA advisory engagements over the past 13 years in Europe and North America, providing end-to-end services across the transaction lifecycle. This includes commenting on and negotiation of the financial aspects of SPAs, enterprise value to equity value bridge analysis, and assistance in the preparation, review, or dispute of completion accounts and earn-out accounts.

Mr. Cunanan has experience in a broad range of industries, including technology, media, consumer and industrial products, and real estate, and he often works with top-tier and mid-tier private equity firms and large and medium-sized corporates in Europe and North America. Mr. Cunanan has advanced working knowledge and proficiency of deal accounting topics under IFRS, U.S. GAAP, French GAAP, and U.K. GAAP.

Prior to joining A&M, Mr. Cunanan spent two years with Grant Thornton in its London office, where he co-led the SPA Advisory practice. He also spent 20 years with PwC in its Paris, London, and Toronto offices, serving as Partner in the SPA Advisory practice. 

Mr. Cunanan earned a bachelor’s degree in accounting and finance from the University of Toronto – Rotman School of Management. He was a sessional lecturer in the DeGroote School of Business at McMaster University in Canada and the EDHEC Business School in France. Mr. Cunanan is co-author of a publication on the locked box mechanism and the Institute of Chartered Accountants in England and Wales’ Earn-Out Agreements guideline. He is a Chartered Professional Accountant in Canada and the U.K.